Rating Release
Agusto & Co. affirms the ‘A’ rating assigned to Fidelity Bank Plc, with a stable outlook
The rating expires on 30 June 2024.
Agusto & Co. affirms the ‘A’ rating assigned to Fidelity Bank Plc (‘Fidelity Bank’ or ‘the Bank’). The rating reflects the Bank’s improved profitability, strong ability to refinance, adequate capitalisation and low level of impaired credits. However, offsetting these positive factors are the obligor concentration in the loan book and the prevailing macroeconomic vagaries. A ‘2’ ESG score has also been attached to the rating, reflecting our view that environmental, social and governance issues have minimal contribution to the Bank’s credit rating.